Thursday, May 16, 2019

Ah yes, another thing the children of Isaac and the children of Ishmael have in common


Before the Alt-right got kicked off of anything, the Puritans were kicked off of Eurbook, Eurtwitter, Eurgle, Eurtube and Eurpal

#Bill of Rights. smh

Takimag Update: The ranking slide continues, down globally 40% since April 2018 when the comments section went away and 32% in the US


We shouldn't really worry too much about China dumping $200 billion worth of US Treasury securities since 2012


The total has fallen by some $200 billion since the peak in 2012 . . .. Foreign government ownership of U.S. debt hit a record of $6.47 trillion, up 4% from a year ago, as the government’s total debt continues to swell and now has topped $22 trillion. Foreign residents increased their holdings by $23.9 billion.

Yeah, well, in May 2012 grand total foreign holdings came to about $5.27 trillion. In March 2019 the figure is north of that by $1.2 trillion across the globe.

US Treasury securities remain very popular, secure investments which pay better than most anything out there. Your only major alternatives paying better than for the US 10-year are Brazil, Mexico, India, Greece and Italy. Like the world is going to go shopping in those places instead of the US.

Gimme a break! 

Jobless claims return to pattern, coming in under levels a year ago at the same time

Except in the seasonally-adjusted 4-week moving average, obviously, where the recent upticks above levels a year ago at the same time are working their way through the average.




Monday, May 13, 2019

Labor's share of income nosedived in the '90s after NAFTA, briefly recovered and then tanked as globalization/China took over

Do you feel richer? Well do ya?

Employers call all the shots, and you get the crumbs from your masters' tables, if you are lucky. 

Stop voting for the free-traders and libertarian lunatics of the two major parties.


Neel Kashkari and other Fed members seem aware at least of the nosedive in labor's share of business income, but are oblivious to its roots in globalization

Fooling around with interest rates isn't going to bring back the core manufacturing businesses which once formed the hubs of American middle class prosperity. That will be just as ineffectual as it has been throughout the Obama administration. Why should it work now all of a sudden when it hasn't worked for ten years?

Well, what else would you expect from the man tasked with implementing the useless TARP sideshow?

Neel Kashkari still hasn't got a clue, but he sure does sound like the workers' friend.



Minneapolis Fed chief links rates to labor share in interview

Kashkari’s break from Fed tradition on inequality adds to the case for keeping interest rates low. He suggested faster wage growth and low unemployment may not be putting much upward pressure on inflation because workers have lost a lot of their bargaining power in recent decades, echoing a point Fed Vice Chairman Richard Clarida has made. ...

Ed Morrissey remembers Doris Day, who has passed away at 97